Building Details

Year Built 1927

Listing Agency: EXP REALTY LLC e***@gmail.com Show Phone

Listed By: Emmy Ellecom-Cassell · License #SL3571540

Source: Crexi

Added: Feb 26 Changed: Aug 8 Last Checked: Aug 8 at 6:34AM

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Investment Insights

Based on property information with market context.

This seven-unit multifamily property in Dover, FL, offers a value-add investment opportunity with existing income and potential for increased returns. Currently, the property is 86% occupied, with six of the seven units leased. The property generates approximately $85,200 in gross annual income. With an estimated net operating income of $60,000, the property is offered at an approximate 12.6% capitalization rate. The property consists of a mix of one-bedroom, one-bathroom and two-bedroom, one-bathroom units. Current gross rents are approximately $7,100 per month. One vacant unit presents an immediate opportunity to increase income. Tenants are responsible for gas. Built in 1927, the property offers potential for improvements and repositioning. The property is situated on a 19,200 square foot lot. This asset is suitable for investors seeking immediate cash flow, a value-add opportunity, small multifamily portfolio expansion, or a high capitalization rate investment. Dover's location near Tampa and ongoing regional growth supports long-term rental demand and appreciation potential.

Key Highlights

• High ~12.6% Cap Rate
• Strong In‑Place Income with $85,200 Gross Annual Income
• Value‑Add Opportunity with One Vacant Unit for Immediate Upside

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Auto Repair Shop HVAC Service Gym & Fitness Center Kitchen & Bath Showroom Grocery & Convenience Store Accounting Firm

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

32

Businesses Nearby

Explore this area Business Placement

Demographics for 33527, FL

16,259

Population

5,768

Households

2.8

Avg Household Size

37

Median Age

20%

College-Educated

80%

High-School Grad

31.4 sq mi

ZIP Area

518

Density / Sq Mi

$77,658

Median Household Income

$37,777

Median Earnings

$944

Median Rent

$347,300

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Seven-unit property with strong income and value-add potential.

Where is this apartment building located?

The property is located at 3244 Moores Lake Rd Dover, FL.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: High ~12.6% Cap Rate; Strong In‑Place Income with $85,200 Gross Annual Income; Value‑Add Opportunity with One Vacant Unit for Immediate Upside